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SLM price target raised to $40 from $33 at Morgan Stanley

Morgan Stanley raised the firm’s price target on SLM (SLM) to $40 from $33 and keeps an Overweight rating on the shares after holding meetings with the company’s CEO and CFO. SLM is exploring potential alternatives to whole loan sales, such as joint ventures, which the firm thinks could drive multiple expansion on more consistent asset-light cash flows, the analyst tells investors. Student loan reform odds “seems higher than it’s ever been,” the analyst added.

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